LCNRV Is an Acronym for

question 38

Multiple Choice

LCNRV is an acronym for

• A) lower of count and net realizable value.
• B) lower of cost and net realizable value.
• C) lower of cost and non realistic value.
• D) lower of cost and net retail value.

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Definitions:

Sympathetic

Demonstrating understanding, compassion, or concern for others' feelings or situations.

Social Responsiveness

The ability of an organization to understand, engage with, and react to social issues, expectations, and the needs of its community or stakeholders.

Ethical Responsibilities

Obligations to act in a moral and ethical manner towards others, often going beyond legal requirements.

Stakeholders

Individuals or groups that have an interest or stake in the performance and activities of a business or organization, such as employees, customers, investors, and suppliers.